PRIVATE INVESTORS GRANT ONE MILLION EUROS
VoltStorage raises further capital in record time to grow its series production
Mainz/Munich, 15 October 2019 – VoltStorage GmbH has collected one million euros through the online platform for sustainable investments WIWIN—in a record time of only ten days. The Munich-based company VoltStorage develops and produces innovative battery storage systems for private households based on Vanadium Redox Flow (VRF) technology. Thereby VoltStorage is demonstrating an ecological alternative to conventional lithium-based storage technologies. More than 250 private investors participated in the crowd investing campaign via WIWIN.
The target for the funding of the campaign was originally set at 700,000 euros but was significantly exceeded within just a few days. WIWIN and VoltStorage have therefore agreed at short notice to increase the target to one million euros in order to give other interested investors the opportunity to participate. WIWIN founder Matthias Willenbacher is pleased about the great interest of the investors: “VoltStorage is one of the most innovative greentech companies in Germany, pursuing an extremely exciting approach in a key technology of the energy system transformation. Energy storage systems are essential to enable a 100% renewable power supply. The investors have understood this—and with their investment they are making a clear call for more sustainability and climate protection. “VoltStorage CEO Jakob Bitner wants to primarily invest the new capital raised via WIWIN in growing the series production of the solar power storage system VoltStorage SMART: “We are very pleased about the success of the crowd funding campaign. The great commitment of private investors confirms what we have heard in numerous discussions with customers and trade partners: There is a high—and constantly increasing—demand for an ecological and resource-friendly alternative to power storage. With our VRF battery storage systems, we can fulfil these needs and introduce new technology to the market.”
Jakob Bitner and his team of founders are already planning the next steps to drive VoltStorage’s growth beyond the crowd funding campaign: “We are currently engaged in promising negotiations with institutional investors who want to support our growth strategy in the long term,” states the CEO.
More about VoltStorage
VoltStorage develops and produces solar energy storage systems based on the ecological Redox Flow technology. With its sustainable storage solutions, VoltStorage follows the vision of making 100% renewable energies available around 24/7 – and thus making the world cleaner and fairer.
VoltStorage is the first company worldwide to make the Redox Flow Technology, which has been successful in the large storage segment for years, available as a home storage solution for private households. This was made possible by VoltStorage’s production process, for which a patent is pending. For the first time this allows automated and thus cost-effective production of Redox Flow batteries.
With the Redox Flow technology, the company can establish a storage technology in the mass market that is free from rare materials and conflicting raw materials, is completely recyclable and also has a high level of operational reliability and longevity.